Amidst uncertainty, contractors and suppliers need to get paid! Understanding their payment rights, and the key steps they can take now to protect their financial health is key to success in troubling times.
The coronavirus is throwing a wrench into just about every segment of the economy, and the construction industry is no exception. Contractors and suppliers already carry a lot of financial risk. Dealing with additional project delays, cancellations, and potentially even slower payments can be stressful at best, and catastrophic at worst.
Fortunately, there are a number of concrete steps that construction businesses can take now to set themselves up for survival. By implementing the guidelines in the Coronavirus Survival Kit, construction pros can come out on the other side of the COVID-19 pandemic with their business set up for continued success.